What is Product Management?
Product Management plays a critical role in the long-term success of an enterprise. This discipline helps an organization to best utilize its internal resources in order to continually bring competitive products and services to the market. It guides the selection of a product and service portfolio based on quantifiable market drivers, as opposed to basing these selections on random ideas.
Product Management acts along the entire value chain and across all business units. In other words, it integrates the various segments of a business into a strategically aligned whole, maximizing the value of a product or service by allowing a keen understanding of market needs to drive product selection and innovation. The result is a successful transition of customer needs into products and services that deliver superior customer benefits while simultaneously providing long-term value to the organization.
Product Management provides critical insight to these strategic questions:
- Is our product/service mix based on what our customers want to buy, or is it based on what we want to sell?
- Are internal resources adequate, or properly utilized, to meet market demands?
- Is our supply chain (up-stream and down) optimally aligned to meet our demands as we constantly adjust our product mix in response to market requirements?
- Do we constantly measure, assess and adjust our strategy in order to fully and proactively exploit changing market opportunities?
- Are we proactive or reactive in our anticipation of and reaction to the changing demands of our customers and stakeholders?
An organization engaged in successful Product Management responds to market demands and utilizes internal structures, processes and resources effectively and in time to create competitive solutions that continually outperform competition. This requires long-term strategic thinking and a management team that recognizes the importance of this discipline.
Our approach to Product Management
We see Product Management as a discipline of strategic importance to any organization that strives to offer competitive solutions in today’s fast changing business world. When properly applied, Product Management bridges the gap between the needs and expectations of the enterprise, its customers, and the varied network of suppliers and partners.
There are many ways to implement Product Management; with implementation being highly dependent on industry or market indicators, the category of offered products and services, as well as internal structures and processes.
With 15 years of global experience implementing Product Management functions across diverse industries, we are exceptionally well equipped to add sustainable value to your organization. Such expertise allows us to provide you with the right tools, methods and know-how to boost your competitiveness and to greatly enhance your prospects for success!
Our services
We offer support in any aspect of Product Management; from finding the optimal implementation strategy for your venture, or the analysis and optimization of your current Product Management structures and processes, to helping you to establish Product Management as a discipline in your organization.
In a typical project, we would start with a 'kick-off' event to help us understand the strategic vision and objectives of your business. What do you want to achieve? Where do you want to be in the mid and long term?
Based on the findings of our preliminary discussions, we will assess the fit between the external environment (your customers, suppliers and partners) and your internal structures and processes as they relate to your responsiveness to competitive pressure, market shifts and customer demands; with the ultimate objective of bringing your products and services into alignment with your business objectives. This analytical exercise helps us to provide you with recommendations and solutions customized to your unique situation.
The following is a list of our services, although we encourage you to contact us for a detailed analysis of your specific needs.
- Implementation and/or optimization of the Product Management
- Process definition, optimization and implementation (Product Life Cycle, Product Innovation/Development and related processes)
- Product portfolio analysis
- Competitive analysis
- Market analysis
- Product strategy (establishment and implementation support)
- Training & Seminars (see section on Coaching & Training)
